Hyundai Motor Group will speed up its electrification strategy in 2022, following the successful launch of the first electric vehicle (EVs) for each brand, including Hyundai Motor's Ionic 5, Kia's EV6 and Genesis' GV60, in 2021.
According to the industry on the 31st, Hyundai Motor Group will focus its business mainly on EVs, rather than internal combustion engine vehicles. It also raised its EV sales target from 1 million units in 2025 to 1.7 million units in 2026 and is also accelerating reorganization and investment.
On the 17th, Hyundai Motor removed its engine development centre in the R&D headquarters and decided to focus on electrification.
It changed the name of the powertrain division to the electrification division, and newly established the battery development centre. Instead of eliminating the engine development centre, it will put it under the electrification division.
Hyundai Motor also transferred teams under the engine development centre to various organizations at the R&D centre to continue developments on engines. An official from Hyundai Motor Group said, "This is a reorganization to focus on electrification."
Hyundai Motor Group is also speeding up the recruitment of IT personnel. Hyundai Motor Group recently promoted a large number of IT personnel such as artificial intelligence (AI), autonomous driving, big data, and connected cars to executives.
Chairman Chung Eui-sun previously announced that he will hire more than 46,000 over the next three years and stressed the importance of IT employees.
The industry expects that Hyundai Motor Group will minimize the recruitment of production workers and actively hire R&D workers as internal combustion engine models will be gradually discontinued. (ANI/Global Economic)
( With inputs from ANI )
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